Yiannis Vroutsis

Package of 3.8 bln euros to keep Greek economy afloat

The government on Wednesday announced a 3.8-billion-euro package of measures to soften the blow to the economy from the coronavirus epidemic. The package aims to support workers, the self-employed and enterprises, as the first mass layoffs have already been recorded and the risk of a painful recession is looming large.

Self-styled anarchists barge into Labor Minister’s office

Members of the anti-establishment group Rouvikonas (Greek for Rubicon) on Thursday barged into the office of Labor Minister Yiannis Vroutsis in the center of Athens shouting slogans and scattering fliers.
In a post on the anarchist Indymedia website, the group said the stunt was carried out in protest at the the government's new social security bill.

Parliament opens debate on new social security bill

Greek lawmakers started debating on Tuesday evening a social security bill, which Labor Minister Yiannis Vroutsis describing it as a "watershed" law that will affect current and future generations. 

Earlier, the minister tabled an accompanying actuarial report which he said "proves the [draft] law's viability until 2070."

Minor fiscal impact from pension hikes

The increases planned for main and auxiliary pensions amount to additional public spending of 0.22 percent of gross domestic product, or 434 million euros, for 2020, but expenditure on pensions as a share of GDP is reduced from 14.8 percent to 14.6 percent this year, mainly thanks to the abolition of the pre-election handout of last spring, branded then the "13th pension."